Wow, there are so many reasons but one BIG reason is communication. Its failure is costing all of us so much money.
We have all heard it isn’t what you say but how you say it. It so much more than that. It is also what you don’t say, who is listening, how often you say it, how loud you say, where you say it, and so on.
All day long we communicate to others but we typically don’t spend any time trying to improve our skill set. No worries, this article won’t improve your skill set either.
The BIG communication failure is the lack of communication. Yes, I believe, the systemic lack of communication is costing everyone.
For example, a new small business, ‘Billy’s BBQ’, opens a bank account. The bank will provide their services but the new small business needs help in many areas. If it is a small local bank, they may suggest some companies he could contact but their communication efforts end there.
Billy’s BBQ then needs to find an accountant. They do and the accountant helps them with accounting services; setting up their accounting system and electronically connecting their bank account to the accounting system.
Billy’s BBQ also needs a location. They find and hire a real estate agent to help them. The agent does a great job but Billy’s BBQ discovers they need financing. The agent may or may not be able to refer them to a company or bank to provide them a loan.
As this scenario plays out, it becomes more and more evident the business process is segmented.
For example, Billy’s will need merchant services. The merchant service company provides their service and they sell Billy’s on prices, service, and reliability but their typical sale pitch doesn’t include how easy it will be for his accountant to integrate the merchant services data into the accounting system or how easy it is for the website designer to use it with his website’s shopping cart or how the system will work with his cyber security protocol.
Billy’s does his best and decides to contract with a merchant services company for at least one year. Then he discovers the cyber security company would have advised him to use a different company and the website designers are going to charge him more because his choice will be harder to integrate into his website. The accountant also tells him the merchant services company is right. Their system does communicate with their accounting system but not the version he is using.
By the end of the process, Billy is frustrated because he wishes he knew these things before he made his selection. He also knows his selection is costing him money when he thought he was saving money.
Most business owners like Billy, blame themselves for not doing enough due diligence, for not being smarter and for not making good decisions. Maybe, Billy will believe it is just the cost of doing business.
The truth about Billy’s decision-making trauma is it has everything to do with communication and the lack of it. Oh no, not on his part but the companies servicing him. Why don’t they talk to one another?
They don’t because their sales funnel statistics indicates by taking the extra time, it will cost them money. So what can Billy do?
That is a good question because for every small business there is an individual or family realizing the same thing. They are just a number in a sale funnel.
Yes, there are so many businesses who try to make alliances, integrate their processes but often those processes are standardized and will have similar effects on their clients, like Billy
Communication!!! It's killing us. We must find a better way.
As for Billy, he must continue to ask questions and when he thinks he has run out of questions he needs to figure out more questions to ask. He also needs to realize; the lack of communication is COSTING him.